Type of credit needed: Above Average to Excellent Credit
Type of card: Rewards/Low Fixed APR
Issued by: American Express™
Overview: Considered to be one of the best cash rebate cards available, the Blue Cash from American Express credit card is for those who already have a strong and established credit history. The card allows individuals to earn rebates on all purchases, with the highest rebate offered on what the card issuer categorizes as “everyday purchases,” including those made at grocery stores, gas stations, and drug stores. A lower rebate is given on all other purchases. There is no annual fee, and Blue Cash from American Express offers a low introductory APR. There is no pre-set spending limit, and it can vary based on the cardholder’s personal situation, payment history, and credit record. Individuals can also take advantage of other services and perks provided to American Express cardholders, including purchase protection, online account access and services, auto rental insurance, and travel accident insurance.
Pro and cons of the card:
Pros:
Low introductory APR
No annual fee
Rebates on all qualifying purchases
Highest rebates on “everyday purchases”
Unlimited rebates
No pre-set spending limit
Online account access
Standard American Express cardholder perks like purchase protection
Cons:
Variable spending limit
Low rebates on purchases not considered “everyday purchases”
Rebate rate is based on the price of the purchase
APR offered may vary depending on credit history
Only purchases qualify for rebates
Excellent Credit
750-850
Good Credit
660-749
Fair Credit
620-659
Bad/Poor Credit
350-619
No Credit
0-0
Do You Know Your Credit Score? Find Out Now!
A credit score
is a number generally between 300-850, based on a statistical
analysis of a person's credit files. This score represents the credit
worthiness of a person. A credit score is assigned to each individual, to rate
how risky a borrower he or she is--the higher the score, the less
risk the individual poses to creditors. In most cases, your credit score will determine whether you will be
approved for a credit card.
1. Credit Scores range from 300-850, the higher the better 2. Most lenders base approval on your credit score. 3. Higher Scores mean lower payments and better deals. 4. Higher Scores mean Lower interest rates. 5. Scores are determined by 5 main categories:
Payment History
Amounts Owed
Length of Credit History
Type of Credit Used
New Credit
Security Notice: All Applications utilize Secure SSL Technology for secure transmissions.
* See the online Americanexpress.com/applynowforbluecash (www.americanexpress.com/applynowforbluecash) credit card application for details about terms and conditions and offers.
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Type of credit needed: Above Average to Excellent Credit
Security Notice: All Applications utilize Secure SSL Technology for secure transmissions.